Property for sale in City of Cleveland - 41709116 - Advertised on propertyO by Global Investments Incorporated

House for sale

£110,314

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41709116


Property description

This large three apartment turn key multi family home is located on a nice street in Forest Hills
close to the shores of Lake Erie and is walking distance to Glenville High School, one of the best
schools in Cleveland.
The property is divided into three large apartments, you have two large two bedroom apartments
and one large one bedroom apartment. The one bedroom apartment has a tenant in place paying
$650 inn rent each month. The remaining 2 x 2 beds are both refurbished and rent ready. The
management company will place brand new tenants when the new owner closes on the property.
Each apartment should achieve $850 – $1,250 in rent each month. The tenants coould be Section
8 housing or private.
Forest Hills is seen as a very strong investment area in Cleveland, it is close to the Waterloo
District, Euclid, Bratenahl and the I90 (highway) Lakeshore is appealing for bus lines and bike
trails. The house is less than 2 miles to the Famous Shoreby Club and the neighbouring
community Bratenahl. Bratenahl is one of the most exclusive residential areas in Cleveland where
properties can sell in the Millions.

Investment Calculations
Purchase price
$129,900
Gross annual rental income:
$37,800
Property running costs:(Tax, insurance and management costs)
$5,428
Net annual rental income:
$32,372
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

25%

Break even in

4 Years.

Contact Global Investments Incorporated about this property

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